FirstGroup plc, the Aberdeen-based transport giant, has successfully completed its acquisition of RATP Dev Transit London, marking a significant expansion into the London bus market. The deal, which was finalised on February 28, 2025, sees RATP London rebranded as First Bus London, bringing a fleet of approximately 1,000 buses and 3,700 employees under FirstGroup’s umbrella.
RATP London, formerly one of the principal bus operators in the capital with a 12% market share, operates 83 Transport for London (TfL) route contracts across west and central London from ten garages.
The acquisition, valued at £90 million, allows FirstGroup to re-enter the London bus market after selling its last garage in the capital in September 2013.
Colin Brown, Chief Financial Officer at First Bus, who will be leading the team at First Bus London, expressed enthusiasm about the acquisition: “The successful integration of First Bus London marks a pivotal moment in our strategy to expand our operations and strengthen our contribution to sustainable travel across the UK and Ireland. We’re exceptionally well-positioned to accelerate innovation in fleet electrification, enhancing service quality for the millions of passengers who rely on us daily.”
The deal is expected to diversify FirstGroup’s revenue and strengthen its position in the UK transport sector. With this acquisition, FirstGroup now manages a combined fleet of over 5,750 buses across the UK, serving an additional 180 million passengers annually in London alone9.
Bill Cahill, who transfers as Managing Director of First Bus London, commented on the transition: “Becoming part of First Bus opens an exciting new chapter for our operation. Our shared commitment to our people, operational excellence and sustainability provides a strong foundation for growth.”
FirstGroup anticipates that as the contract portfolio evolves over the next five years, annual revenues from the London operations are expected to grow to £300-350 million, with operating margins in line with historical London levels of approximately 6-7%.
The acquisition not only marks FirstGroup’s significant entry into the London bus market but also aligns with the company’s strategy of growth and diversification. As the Aberdeen-based firm continues to expand its footprint in the UK’s transport sector, it remains committed to enhancing service quality and accelerating the transition to zero-emission vehicles.
